November 11, 1985
The number of U.S. bank failures this year rose to 100, with one bank in Iowa and another in Texas going into receivership, the Federal Deposit Insurance Corp said. Last year, 79 banks failed. An FDIC spokesman said the banks that closed were the Northshore Bank of Houston and the Auburn Savings Bank in Iowa. Both will reopen Tuesday under new management.
June 25, 1999 |
Bank One Corp. on Thursday became the first major U.S. bank to open a separate Internet-only bank, launching WingspanBank.com as it tries to tap the Web to lure new customers. WingspanBank.com (http://www.wingspanbank.com) offers everything from online bill-paying to insurance-finding services to a "concierge" that can recommend restaurants and hotels and book reservations. Chicago-based Bank One, the No. 5 U.S. bank, will continue to offer online banking services through its http://www.bankone.
April 26, 2013 |
Owners of Southern California small businesses are mixed on the state of the economy, according to data released Thursday. About 42% said the economy was recovering, and 48% said the nation was still in a recession, according to the U.S. Bank Small Business Annual Survey. More than two-thirds of the business owners said they were unlikely to make a capital expenditure in the next year. In Southern California, 64% of respondents characterized their financial health as “good,” and 46% said they expect higher revenues in the next year.
November 23, 2006 |
JPMorgan Chase & Co., the third-biggest U.S. bank, agreed to pay $2.2 million to settle claims that the company's Bank One unit discriminated against hundreds of employees on long-term medical leave, the government said Wednesday. The U.S. Equal Employment Opportunity Commission claimed Bank One, which JPMorgan acquired in 2004, violated the Americans With Disabilities Act by failing to properly accommodate employees whose medical leaves exceeded six months.
June 7, 2001 |
Bank of America Corp., the largest U.S. bank by deposits, said it plans to exit equities and merger and acquisition advisory businesses in as many as 12 emerging markets to focus on more profitable debt operations. The changes will affect about 100 staff and will span Singapore, Hong Kong and India in Asia as well as markets in Eastern Europe and Latin America.
November 8, 2000 |
Bank One Corp., the No. 4 U.S. bank holding company, named Philip Heasley, a former U.S. Bancorp president, to run its troubled First USA credit card operation. Heasley, 51, will become chairman and chief executive of First USA on Jan. 1, succeeding William Boardman, 59, who will retire in mid-2001. First USA, the third-largest credit card issuer with 53.6 million cardholders, has been a sore spot for Chicago-based Bank One for more than a year.
April 6, 2004 |
Bank of America Corp., the nation's No. 2 bank, said Monday that it planned to cut 12,500 jobs over the next two years as a result of its $48-billion purchase of FleetBoston Financial Corp. The cuts amount to about 7% of the combined banks' workforce of more than 180,000. Bank of America said about 30% of the cuts would be through attrition.
August 2, 2007 |
Biola University in La Mirada has sued Bank of America Corp. and BNP Paribas, saying the banks conspired to overcharge the Christian school for $84.2 million of derivatives. In its suit filed Tuesday in U.S. District Court in Los Angeles, Biola said the banks misled it into believing that it paid a fair price for four derivatives it bought in 2002 and 2004. The contracts were tied to tax-exempt bonds the college sold. Bank of America, the second-biggest U.S.